Most people have heard of premarital agreements, also known as prenuptial agreements/prenups, usually in relation to a celebrity marriage breakdown in tabloid news. Although typically perceived as for celebs or the very wealthy, people of all means have started to understand the benefits and take action themselves, with an increasing number of couples wisely putting…
The Ministry of Justice has now confirmed that the Government is pressing ahead with substantial increases in Probate Court fees.
This decision arises despite arguments against the move by The Society of Trust and Estate Practitioners, Solicitors for the Elderly and the majority of respondents to the Government consultation process.
From 6 April this year the new Residential Nil Rate Band (RNRB) will allow an additional £100,000 of property to be passed, by your Will, to direct descendants alongside the current individual Inheritance Tax free allowance of £325,000. This raises the value of property that a couple can pass on death without incurring an Inheritance…
Relationship breakdowns are often more challenging where there are children to consider. The children rarely understand why their parents must live apart and have difficulties themselves coping with the changes. Resolving issues such as where your children will live and how you’re going to care for them now you are separated can be a minefield.
The potential complexities surrounding childcare have featured heavily in the media as, following his recent and very public split from Angelina Jolie, actor Brad Pitt is seeking joint custody of their six children.
Probate and Will disputes are becoming more common. If you are an executor, you owe a duty of care and must be careful about the decisions you make if a dispute arises.
If a claim is made or threatened you should not ignore it and you should follow the correct rules and procedure. If you do not, you may leave yourself open to personal liability and future problems.
It’s an alarming statistic, but almost 60% of adults across the UK have not written a Will, leaving their final wishes in the hands of the Intestacy Rules. This lack of planning can have serious consequences to many, especially if you have difficult family circumstances, have children from a previous marriage or are un-married and living with a partner.